Interim Budget for 2024 presents a balanced approach, focusing on sustainable growth and fiscal prudence. The government's commitment to increase capital expenditure (capex) to Rs 11.1 lakh crore, marking an 11.1% rise, is a positive move. This highlights the government's intent to boost infrastructure and development, which is essential for long-term economic growth.

Interestingly, the budget maintains stability in taxation, a decision that should be well-received by both individuals and businesses. Stability in tax policies is crucial for fostering a predictable economic environment, encouraging investment and growth.

The fiscal deficit targets set at 5.1% of GDP for FY25, and a downward revision to 5.8% for FY24, signal a cautious yet optimistic economic outlook. This approach indicates a focus on reducing excess spending while ensuring necessary funding for critical areas.

A highlight of the budget is its emphasis on inclusive growth, addressing the needs of diverse groups like the poor, women, youth, and farmers. Initiatives like extending Ayushman Bharat cover to all Anganwadi and Asha workers, supporting housing for the middle class, and fostering EV manufacturing underscore this commitment.

The budget also promises a golden era for tech-savvy youth, with plans to roll out 50-year interest-free loans, which could be a game changer in empowering the younger generation.

However, the gradual reduction in government capex growth, from 36% in FY24 to 11.1% in FY25, suggests a shift towards a more sustainable and measured approach to capital spending, aligning with the overall theme of fiscal consolidation. This careful balance between expenditure and fiscal responsibility could be the key to maintaining economic stability while fostering growth.